Lyell Wealth Management LP Trims Stock Position in AbbVie Inc. (NYSE:ABBV)

Lyell Wealth Management LP lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,615 shares of the company’s stock after selling 56 shares during the period. Lyell Wealth Management LP’s holdings in AbbVie were worth $287,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. AMF Tjanstepension AB bought a new stake in AbbVie during the third quarter valued at approximately $8,777,000. Swedbank AB lifted its position in AbbVie by 0.3% during the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after purchasing an additional 6,810 shares during the last quarter. Howard Capital Management Group LLC lifted its position in AbbVie by 20.3% during the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after purchasing an additional 339 shares during the last quarter. Alexander Labrunerie & CO. Inc. bought a new stake in AbbVie during the third quarter valued at approximately $216,000. Finally, FSC Wealth Advisors LLC lifted its position in AbbVie by 3.7% during the third quarter. FSC Wealth Advisors LLC now owns 2,537 shares of the company’s stock valued at $501,000 after purchasing an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ABBV. Truist Financial lifted their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Morgan Stanley boosted their price objective on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Bank of America restated a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a report on Tuesday, December 10th. Wells Fargo & Company boosted their price objective on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Wolfe Research began coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Up 0.5 %

Shares of AbbVie stock opened at $197.30 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The company’s fifty day simple moving average is $179.67 and its two-hundred day simple moving average is $186.11. The company has a market cap of $348.66 billion, a P/E ratio of 82.21, a PEG ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same quarter in the previous year, the company earned $2.79 EPS. Research analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.